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Question
Use the following cash flow data of Haven Hardware for the year ended December 31, 2017.
| Cash Dividend | $ | 70,000 | |
| Purchase of Land | $ | 28,000 | |
| Cash Payment on Interest | $ | 20,000 | |
| Cash Payment on Salaries | $ | 90,000 | |
| Sales of Equipment | $ | 76,000 | |
| Retirement of Common Stock | $ | 50,000 | |
| Purchase of Equipment | $ | 60,000 | |
| Cash Payments to Suppliers | $ | 170,000 | |
| Cash Collections from Customers | $ | 500,000 | |
| Cash at the Beginning of the Year | $ | 100,000 | |
What is the net increase or decrease in cash for Haven Hardware for 2017?
A) −$94,000
B) −$88,000
C) $88,000
D) $188,000
Answer
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